Marketing to the elite

Links: Click this article’s entry in Table of Contents’ on our website

Companies managing luxury brands are adopting diversified strategies to attract upper-income clientele. They invest a lot of funds and apply different marketing strategies to expand their portfolio and reach their targeted audience. Representatives of luxury brands are keen to build a trusted relationship and grow their network among the affluent. They collect data regarding the behavior of their clients and what drives them in order to offer them customized offers. They also pamper their clients, providing them with, for example, the chance to travel and visit where their goods are made. Sometimes senior managers contact them directly to offer hot deals.

UNIQUENESS IS KEY

For bespoke jewelry and watches, customization and personalization is key. Bespoke brands work on personalizing their relationships with prospective clients. “We reward them with gifts such as a journey to Paris fully paid by the brand, and take them on visits to the brand, Brand Manager at Fattal, distributors of premium jewelry brands such as Boucheron, Pomellato, Dinh Van, and Rimowa, with prices reaching up to $100,000. Luxury brands build personal relationships with customers, to understand what drives them, their passions and interests, and what makes them feel special.